SEB Agrees to Sell Tink Stake to Visa
24 Junho 2021 - 5:59AM
Dow Jones News
By Dominic Chopping
STOCKHOLM--Skandinaviska Enskilda Banken AB said Thursday that
it has agreed to sell it stake in Swedish fintech company Tink to
Visa Inc.
Visa earlier Thursday said it had agreed to buy open banking
platform Tink for 1.8 billion euros ($2.15 billion).
The Swedish bank said it is Tink's largest and earliest
strategic investor, after the companies initiated a strategic
partnership in 2016 that saw SEB acquire a stake in Tink and sign a
license agreement to use Tink's platform in the development of its
mobile app and digital offerings.
In 2017 and 2019 SEB increased its investment in Tink.
The parties have agreed not to disclose any financial details,
but SEB said it will provide additional details in its report for
the second quarter of 2021.
The transaction is subject to regulatory approvals and other
customary closing conditions.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
June 24, 2021 04:50 ET (08:50 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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